INTRODUCTION
On 20 December 2013, Ireland's Minister for Finance
published the General Scheme of the Irish Collective
Asset-management Vehicle Bill 2014 which will allow for the
establishment of a new Irish corporate investment fund structure
that will be tailored to the needs of the global funds industry:
the Irish Collective Asset-management Vehicle or
"ICAV".
We have set out below some commonly asked questions about the
ICAV. This Q&A has been prepared on the basis of the draft
legislation and is therefore subject to change as the legislation
is finalised.
1. What is an ICAV?
The ICAV is a new Irish corporate fund vehicle that will exist
as the fifth type of legal structure alongside the current fund
structures that are available in Ireland (the investment company,
the unit trust, the common contractual fund and the investment
limited partnership). The ICAV is most similar to an investment
company but with certain advantages that mean it will be more
